Green Hydrogen Market to value USD 119 Billion by 2030:

Selbyville, Delaware, Sept. 29, 2022 (GLOBE NEWSWIRE) —

The green hydrogen market is expected to record a valuation of USD 119 billion by 2030, according to a new research report by Global Market Insights Inc. Extensive investment across both private & public sectors to advance green hydrogen production technologies will boost the green hydrogen market trends. Robust research and development activities have enabled the introduction of innovative & efficient solutions for clean hydrogen production. There could be increased cooperation among major industry players to expand the production of hydrogen and other green fuel options.

Wind and solar power generation facilities are utilized to produce green hydrogen. Solar energy is among the most adopted renewable energy sources in developing regions. According to the IEA, the installed capacity for solar PV in Africa could be over 125 GW by 2030, representing a substantial portion of the total power generation capacity on the continent. This indicates a significant potential for clean hydrogen producers to help countries in and around the region move towards a greener future.

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The green hydrogen market from solid oxide technology segment is anticipated to reach USD 950 million by 2030. Shifting focus toward the adoption of high efficiency & low-cost solutions and a rising inclination toward the commercialization of electrolyser technologies will foster deployment of solid oxide technologies. Features like high current density, lesser requirement of auxiliary components and low maintenance in terms of electrode corrosion will drive the adoption of this technology.

Continuous government investments to increase the adoption of FCEVs and reduce carbon emissions could propel the demand for clean hydrogen in the transportation sector. Automotive companies are steadily shifting from conventional fossil fuels to…